Financial GK Quiz

1.Which of the following is the regulator of insurance sector in India?

RBI AMFI IRDA SEBI

2.Which of the following terms is NOT related to the insurance sector?

Indemnity Coverage Misuse Alert Annuity

3.Which of the following public sector companies/organizations provides insurance cover to exporters?

ECGC NABARD SIDBI IRDA

4.The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?

Instalment Contribution Premium EMI

5.Which of the following is/are the various types of insurance? 1.Life insurance 

2.Health insurance 

3. Liability insurance

Only (a) Only (a) and (b) Only (a) and (c) All the three

Insurance Awareness

1.When did insurance begin in Babylon?

1750 BC 1907 BC 1971 BC 2000 BC

2. Which one of the following does not belong to the main products of life insurance?

Term Whole life Endowment Personal accident insurance

3. Which one of the following does not belong to the major general insurance private sector companies in India?

Reliance General Insurance The Oriental Insurance Company Bajaj Allianz General Insurance Royal Sundaram Alliance Insurance

4.When was the Oriental Life Insurance Company established?

1815 1818 1821 1833

5.When was Life Insurance sector nationalised?

1947 1951 1956 1959

Insurance contracts Quiz

1.What is the term used to describe terminating the insurance relationship at the end of the policy period?

Cancellation Non renewal Seperation Exclusive

2.Which is the best example of an indirect loss?

Sequential Loss Liability Loss Employee Theft Loss of Use

3.Which is a two party contract?

Property Casualty Liability Auto

4.Insurance contracts offset

speculative risk pure risk gambling created risk

5.Which of the following is a third party contract?

Property Casualty Earthquake Theft

Insurance Awareness - GK

1._________is a sum of money paid by an employer to an employee for services rendered in the company

Pension Gratuity Salary Premium

2.What is lapse in insurance ?

Termination of an insurance policy due to the insured’s failure to pay the premium. It is a policy that does not pay benefits to the beneficiary if the cause of death is an accident Both 1 and 2 It is a policy that pays benefits to the beneficiary if the cause of death is an accident

3.Mortality Charge is the amount charged _____________ by the insurer

Every month Every year Every day Every 6 months

4.__________________ is an insurance product typically sold or issued by life insurance companies.

Life term policy Life Insurance Life Annuity Term Insurance

5.What is TPA ?

Third Party Administrators Third Power Administrators The Party Accelerators The Power Administrators

Insurance Awareness - GK

1.Economic Order Quantity is a method of

managing raw materials managing finished goods managing debtors managing creditors

2.Which Act confers on banks their Right of set off?

Banking Regulation Act, 1949 Reserve Bank of India Act, 1934 Negotiable Instruments Act, 1881 Indian Contract Act, 1872

3.Which Committee was formed to review the system of lending under Consortium Arrangement?

Kapoor Committee Khan Committee J.V. Shetty Committee Share Committee

4.Which of the following cannot issue a commercial Paper?

Companies Primary Dealers Commercial Banks All India Financial Institutions

5.The Bond can be

Zero Coupon Bond Deep Discount Bond Floating Rate Bond Any of these

GK Insurance quiz

1.Bad loans in banking terminology are generally known as

Prime Loans Prime Asset BPOs NPAs

2.Currency notes issued by RBI are fully covered by

Approved assets Gold Foreign exchange All of these

3.Authority to prescribe retention period of records of banks vests with

IBA RBI GOI SEBI

4.Ceiling for settlement through Lok Adalats is

Rs. 10 lakh Rs. 15 lakh Rs. 20 lakh Rs. 25 lakh

5.If a bank wants to introduce a new deposit scheme, the same is now approved by

RBI IBA respective Bank's Board Both A and B

Banking Awareness Questions

1.Which of the following institutions extends maximum term loan to States?

NABARD LIC IDBI IFCI

2.For which of the following purpose can banks grant Working Capital Term Loan?

Meeting margin for term loan Meeting margin for working capital loan Meeting contingent expenses Meeting credit needs for peak season in an industry

3.Loan System of Advances has been recommended by

Rashid Jilani Committee Narasimham Committee Goiporia Committee Tandon Committee

4.Which of the following is not an indicator of productivity for a bank branch?

Business Per Employee Accounts (both deposits and advances) Per Employee Net Profit Per Employee Neat and clean ambience

5."Service Area Approach" was recommended by

Dr. P. D. Ojha Committee A. D. Gorawala R. V. Gupta Dr. Kalia

Insurance Awareness - GK

1.Which of the following offerings is not a service?

Fixed Deposit Receipt 

Postage Stamp 

Gift coupon of a chain share

Insurance policy

2.Home loans are granted to

Individuals Institutions Builders Above all

3.A call means

Calling on friends 

Calling on bank employees 

Calling on prospective customers 

To make telephone calls

4.Financial Inclusion means

Opening accounts of finance companies 

Financial analysis of balance sheet figures

Opening accounts of HNIs

Opening accounts of underprivileged persons

5.'Benchmark' means

Products lined upon a bench 

Salesmen sitting on a bench 

Set standards

All of the above

Insurance Awareness - GK

1.Whenever RBI does not open Market operation Transaction, actually it wishes to regulate which of the following?

Inflation only Liquidity in economy Borrowing powers of the banks Fow of Foreign Direct Investment

2.In economics, it is generally believed that the main objective of a Public Sector Financial Company like Bank is to

Employ more and more people 

Maximize total profits

Maximize total productions 

Provide financial service to the people of the nation of its origin across the country

3.In a Company, the use of price sensitive corporate information by the Company people to make gains or cover losses is known as

insider trading future trading foreign trading stock trading

4.Which of the following cannot be called as a debt Instrument as referred in financial transactions?

Certificate of Deposits Bonds stocks Commercial Papers

5.Which of the following Committees has given its recommendations on “Financial Inclusion"?

Rakesh Mohan Committee Rangarajan Committee sinha Committee None of these

GK and Banking Awareness

1.The RBI has given its permission for cash withdrawal at "POS terminals." What is the full form of "POS"?

Permitted on Sale Potential of Service Point of Sale Permission of Sale

2."The Doing Business Report" is prepared by which of the following organization every year?

Asian Development Bank World Bank International Monetary Fund World Trade Organisation

3."Yen" is the currency of

China south Korea North Korea None of these

4.A new Foreign Bank Sarasin & Co. has launched its operations in India recently.This is a bank based in:

USA Switzerland France None of these

5.The Head of the Reserve Bank of India is designated as the

Chief Executive Officer Managing Director Chief Banking Officer None of these

Banking and Insurance Quiz

1.Which of the following apex body and regulators has asked banks to swap customer related information so that the frauds and defaults may be prevented in future?

Bombay Stock Exchange (BSE) 

Indian Bank's Association (IBA) 

Securities & Exchange Board of India (SEBI)

Reserve Bank of India (RBI)

2.Who amongst the following is the author of the book (released recently) "India and Global Financial Crisis :Managing Money and Finance"?

Dr. Bimal Jalan

Dr. C. Rangarajan 

Dr. Manmohan Singh 

Dr. Y.V. Reddy

3.The Reserve Bank of India does not print currency notes of the denomination of

20/-

50/- 

3,000/- 

1,000/-

4.Which of the following is considered as the financial capital of India?

New Delhi 

kolkata 

Ahmedabad 

None of these

5."Micro Credit" means

Loans of small amounts to people in unorganized sector 

Loans to self Help Groups 

Loan amounting rs. 50 lakhs t rs 5 crores to Medium and Small Industries Units 

None of these

Insurance GK Questions

1.What does Collateral Security mean?

Securities in the form of goods pledged for Cash Credits 

Securities given to banks for loans against approved securities 

Securities in the form of shares blue chip companies

Security given to banks over and above the primary security

2.When trading takes place among members of a stock Exchange as create false volumes and rigging the prices of shares, it is known as

Spot Trading

Future Trading

Circular Trading

Insider Trading

3.When two parties make an arrangement to exchange future cash flows, it is called

Options

Arbitrage

Swap

Futures

4.Exporters in India get insurance cover and risk cover from which of the following organizations?

SIDBI

NABARD

ECGC 

RBI

5.The govt. of India does not provide and direct financial assistance to which of the following schemes?

Mahatma Gandhi National Rural Employment Guarantee scheme.

Rural Health mission 

India Aawas Yojana

Jeevan sathi Yojana

INSURANCE AWARENESS QUESTIONS & ANSWERS

1.SGL Account is

Subsidiary General Ledger

It is maintained by public Debt Office of RBI 

Banks maintain exclusively GOvernment Securities Accounts All of the above

2.Know Your Customer (KYC) guidelines are as per the provisions of

Section 35 of Negotiable Instruments Act, 1881 

Section 35A of Banking Regulation Act, 1949

Section 35A of RBI Act, 1934 

IBA guidelines

3.Maximum period for which a commercial paper can be issued is

3 months

6 months

1 year 

2 years

4.Out of the "non-customer facing activities" given below, which of the following has been moved out of the branch to the maximum extent?

Issue of demand drafts 

Processing of loans 

Clearing of cheques 

Opening of Savings Accordingly, the three

5.What does "Round Tripping" in Foreign Direct Investment (FDI) relate to?

Using FDI funds inside the country

Using FDI funds outside the country 

Domestic funds used outside the country 

None of the above

General Insurance Quiz

1.“form 61‟ is associated with

persons not in receipt to taxable income persons with agricultural income Both A and B None of the above

2.Which one of the following is not correctly matched?

Rural Credit : NABARD Industrial : SIDBI Rural Poverty : SJSRY Disguised : Subsistence unemployment agriculture

3.“Red Clause “ Letter of Credit is

when opening bank advises the advising bank to give advance to the exporter when advising bank informs the opening bank about credit given to exporter all the clauses are printed in red None of the above

4.A bank normally does not have to deal with an issue related to

Payments and settlement system constractual rights of creditors intellectual property right cases of insolvency

5.Treasury bills are sold in India by

Reserve Bank of India State Governments Commercial Banks SEBI

Insurance Awareness - GK

1.The purpose of providing depreciation on the bank's property is

To reduce the profit of the bank to make usual allowances for annual wear and tear to enable the bank to recover this amount from the Reserve Bank of India to Strengthen the financial position of the bank

2.Bank Rate is

a rate of interest charged by the commercial banks from the borrowers for advances against Government Securities the lowest rate of interest charged by the commercial banks from the borrowers the rate at which the Reserve Bank of India would rediscount bills of exchange or other eligible commercial papers, the rate at which commercial banks discount bill of exchange for their customers.

3.In case of a Hindu Undivided Family, when Karta dies leaving overdraft account

old account is closed and a new account opened Fresh HUF letter is obtained all the co-partners will operate on the account None of the above

4.In the Balance Sheet of a bank, contingent liabilities are shown

on the liabilities side of the Balance Sheet by way of a deduction from the assets by way of a footnote in the Schedule on the assets side of Balance Sheet

5.When a cheque with forged drawer's signature is paid by the bank , the paying banker is

protected if the cheque is paid in good faith and without negligence protected if the forgery could not have been detected with the exercise of reasonable care and prudence not entitled to debit the drawer's account with the amount of the cheque liable to the drawer only if there has been no contributory negligence on the part of the drawer

Financial Awareness Quiz

1.In NRE account, rate of interest is linked to

LIBOR Bank PLR RBI

2.In the money market operations , the item widely accepted is

Inter Bank Participation Certificate Certificate of Deposits Treasury Bills None of the above

3.To meet a significant increase in demand for bank credit, a bank may

Make use of excess reserves Borrow from other banks Borrow from the Reserve Bank of India All of the above

4."White Card” is a

Co-branded credit Card without logo of the issuer Credit Card wit logo of both issuer and sponsor Litchi Card issued i Uttaranchal Card used in football by the referee.

5.Under the Credit Guarantee Trust for Medium & Small Enterprises (CGTMSE), loans and advances to Educational Institution are

Covered Not covered CGTMSE is silent about covering the loans to Educational Institutions None of the above

General Insurance Quiz

1.Bank rate of RBI is also known as

Interest Rate Discount rate Fed Rate Bid rate

2.The limitation of CRR of RBI is

3 -10% 3 -15% 15-38% 10 -25 %

3.The apex organisation of Indian money market is

SBI SEBI RBI IRDA

4.If the cash reserve is lowered by RBI, what will be its effect on credit creation?

Decrease Decreased 10% Increase No Change

5.Which of the following banks merged with Punjab National Banks in 1993?

New Bank of India Central Bank of India Imperial Bank of India Common Bank of India

Financial Awareness Quiz

1.Which Scheme will be implemented as an alternative to purchasing of gold in India ?

RBI Gold Bonds Indian Gold Bond Bharat Gold Bond Sovereign Gold Bond

2.what is the full form of MUDRA?

Micro Units Development Refinance Agency 

Macro Units Development Refinance Agency 

Maharashtra Units Development Refinance Agency 

Mumbai Units Development Refinance Agency

3.Who presented the Economic Survey 2014-15 ?

Bimal jalan 

Raghuram Rajan 

Narendra Modi 

Arun Jaitley

4.What is the Meaning of Bull Market ?

A market characterized by rising prices for securities. 

A market characterized by falling prices for securities. 

A market characterized by rising prices for assets. 

A market characterized by falling prices for assets.

5.What is a Insurance premium ?

more expensive health plan 

Money Given before Buying a insurance 

Insurance Payment of one cycle(monthly or yearly ) 

Cheque Rebate